Mixa, Mixa, Mixa is the 25th episode of Mr. Watchlist’s DesigNation. Today, we focus on last week’s FinCEN Civil Monetary Penalty assessment on Larry Dean Harmon, who ran a pair of bitcoin mixers. And FinCEN used the enforcement structure it talked about in its August BSA Enforcement Statement … good […]
FINMA reassesses disgorgement of profits in BSI case The Swiss Financial Market Supervisory Authority FINMA has reassessed the disgorgement of profits in the 1MDB enforcement case against BSI. In addition, FINMA has concluded all proceedings against individuals in connection with this case. In two cases it issued industry bans. FINMA […]
I recorded a new episode last night about Tuesday’s OFAC settlement with Berkshire Hathaway… available everywhere except Pandora (AFAIK) and Radio.com (ditto). If you listen via one of the subscription services, please post a review. Otherwise, I have no idea of what I’m providing meets your needs or not. Thanks!
Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Berkshire Hathaway, Inc. Release date 10/20/2020 Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $4,144,651 settlement with Berkshire Hathaway, Inc. (“Berkshire”), a multinational conglomerate holding company based […]
From today’s CMP assessment of $60,000,000 on Larry Dean Harmon: IV. CIVIL MONEY PENALTYFinCEN determined that Mr. Harmon, in his roles with Helix and Coin Ninja, willfully violated the BSA and its implementing regulations, as described in this ASSESSMENT and Attachment A, and that grounds exist to assess a civil […]
First Bitcoin “Mixer” Penalized by FinCEN for Violating Anti-Money Laundering Laws Contact Office of Strategic Communications, 703-905-3770 Immediate Release October 19, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a $60 million civil money penalty against Larry Dean Harmon, the founder, administrator, and primary operator of Helix and Coin Ninja, convertible virtual […]
Generali Global Assistance, Inc. (GGA), a New York-incorporated travel assistance services company that provides travel and claims services on behalf of clients that offer global medical expense and travel insurance policies, has agreed to remit $5,864,860 to settle its potential civil liability for 2,593 apparent violations of the Cuban Assets […]
From the Enforcement Information: Keysight Technologies, Inc. (“Keysight”), a company based in Santa Rosa, California, on behalf of its former Finnish subsidiary, Anite Finland Oy (“Anite”), has agreed to pay $473,157 to settle its potential civil liability for reexports of U.S. export-controlled test measurement equipment to Iran. Anite had business […]
The newly-posted episode of Mr. Watchlist’s DesigNation is about yesterday’s OFAC enforcement action against Comtech Telecommunications and Comtech EF Data. All you need to know: egregious violations, settlement larger than the base penalty, and only 1 mitigating General Factor… Hoo boy! What fun!
Let me start by saying “oh, my.” Four egregious violations, thankfully self-reported. The base penalty was $584,386 but the resulting fine was $894,111. What Happened On or about February 12, 2014, EF Data and Memotec, Inc. (“Memotec”), a wholly owned subsidiary of EF Data located in Montreal, Canada, prepared a […]